Energy prices are expected to rise later this year in Ireland according to Ireland's energy provider Bord GÃ¡is Energy, whoÂ warned of higher costs.Â The anticipated rise in gas prices will also push up electricity prices.
While the wholesale price of gas increased in May, wholesale oil, coal and electricity prices all fell. Overall wholesale energy prices fell 5%, according to the Bord GÃ¡is Energy Index, but remained 27% higher than a year ago.
Bord GÃ¡is Energy trading analyst Michael Kelleher said;
â€œFutures markets are predicting relatively stable prices for the remainder of the summer, but a return to higher prices in the fourth quarter of this year. This is primarily due to expected higher natural gas prices."
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